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First Class Mail Stamp Prices Could Go Up

WASHINGTON, DC (CBS 2/FOX 28) -- First class stamps could be going up by 3 cents. The financially strapped Postal Service is asking an independent commission to approve the emergency rate hike. Without it, the Postal Service says it will quickly run out of cash. It currently costs 46 cents to mail a letter. The Postal Service gets nearly half its revenue from stamps, but fewer people are using them as they turn to the internet for communicating and paying bills.

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